Parkview Financial Provides $19.8M Construction Loan For Mixed-Use Project In Fishtown, Philadelphia

Parkview Financial has provided a $19.8 million construction loan to M&B Development for the ground-up development of a mixed-use project located at 2000 E. Hagert in the Fishtown neighborhood of Philadelphia, PA. The project, situated on 0.46 acres, will feature a Class A building with 108 residential units and 13 units of live/work artist lofts on the ground floor and subterranean levels.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $19,800,000
• Location: 2000 East Hagert Street, Philadelphia, PA
• Market: Philadelphia, PA
• Size: 83,809 square feet
• Units: 108

The lender, Parkview Financial, led the financing of the project with Paul Rahimian and Luke Hingson representing the company. M&B Development will oversee the ground-up development of the mixed-use project, which aims to provide high-quality residential units and live/work artist lofts in the vibrant Fishtown neighborhood.